Global investment firm KKR and hospitality giant Marriott International have announced their entry into Japan’s mid-range hotel market with the launch of Four Points Express by Sheraton.
The move follows KKR’s acquisition of Unizo Hotel Company and a portfolio of 14 hotels in Japan from Unizo Holdings.
These 14 hotels will be converted into the new Four Points Express by Sheraton brand, marking Marriott’s affordable mid-market debut in Japan and the Asia Pacific region.
The fourteen hotels will open in the second half of this year and are strategically located at major tourist destinations in ten Japanese cities.
This expansion adds more than 3,600 new rooms to both KKR and Marriott’s portfolios in Japan.
Marriott International Asia Pacific exclusively Chinese President Rajeev Menon said: “There is growing consumer demand for reliable yet affordable accommodation in the region. Our goal is to be everywhere our guests want us to be, with the right home in the right location, at the right price.
“This partnership with KKR will enhance our ability to do just that – starting in Japan, with the opportunity to expand our mid-market presence in the region.
“Our new mid-range brand will provide hoteliers with an affordable conversion option with an efficient operational design, access to Marriott International’s extensive distribution systems and the support of our powerful, award-winning Marriott Bonvoy travel program.”
Four Points Express by Sheraton targets value-conscious consumers looking for reliable and simple accommodation.
The new mid-range brand will be integrated into Marriott’s loyalty platform Marriott Bonvoy, which has more than 200 million members worldwide.
It plans to use Marriott’s Global Sales Organization and digital platforms, including its website and the Marriott Bonvoy mobile app, to drive direct bookings.
Kensuke Kudo, director of real estate at KKR, said: “We are pleased to be strategic partners with Marriott International, one of the world’s leading hotel companies, to launch the Four Points Express by Sheraton brand in Japan.
“By combining KKR’s real estate investments and operational expertise with Marriott’s deep hospitality experience, we aim to deliver outstanding yet affordable lodging experiences to international and domestic travelers throughout Japan.”
Reports recently emerged that Marriott International was intensifying its focus on India with plans to open 12 new hotels this year.
“KKR and Marriott Debut Mid-Range Hospitality in Japan” was originally created and published by Hotel Management Network, a brand owned by GlobalData.
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